China Deal Monitor: Shunwei-backed Sublue nets $17m and more updates

China Deal Monitor: Shunwei-backed Sublue nets $17m and more updates

Shunwei Capital-backed underwater-based smart device maker Tianjin Deepinfar Ocean Technology, also known as Sublue, has bagged 120 million yuan ($17 million) in a Series B+ round from new investor Minsheng Securities and existing backers SDIC Unity Capital, TEDA Venture Capital and V Star Capital. 

SDIC, Hidea Investment and Gaolin Capital made an unspecified equity interest investment in Sublue in 2018. Previously, in 2017, Shunwei had partnered with V Star, TEDA, Hongtai Aplus and other investors to collectively inject 110 million yuan ($16 million) in its Series A+ round. 

Founded in 2013 in Tianjin, Sublue produces underwater digital products including autonomous underwater vehicles, remote-operated vehicles, underwater glider, among others. The products cater to a slew of industries such as submarine cleaning and maintenance, rescue, marine research and entertainment. Besides, it develops consumer-based products that are exported to 50 countries and regions.  

Its previous investors also include Everest Venture Capital, Seekdource Investment, Dingxiang Capital, Peakview Capital, among others.


DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on July 13, 2020. 

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